Pps

Document Sample
Pps Powered By Docstoc
					                                        The PPS and You
Australia’s now operational PPS Act is administered by The Insolvency and Trustee Service Australia
(ITSA). The aim of this act is to unify the laws is to unify the national system to enforce security interests
over personal property.
The new laws represent improvement for merchants; pursuant to the goods they supply customers. Goods
entered into the PPS Register protect you in the event of default, bankruptcy or insolvency.

Under the new laws, a Purchase Money Security Interest entitles you to recover goods which you have not
been paid for due to customers’ default, bankruptcy or insolvency. Additionally, your claim on such goods
is superior to parties which are unregistered or registered at a later date than you or your company entity.
This is true of goods either sold or consigned.

PPS revisions ensure that you recover your goods with priority over your customer’s bank, even if that bank
has a General Security Agreement over that those goods.

Also improved are a merchant’s rights to claim goods you supplied which may have been commingled with
other goods, as well as a right to trace the proceeds of the use or sale of your goods.

The overall story of the PPS is a good one for merchants, manufacturers, brokers etc. However, it can be
daunting to figure out all of the new changes, and take full advantage of the protections afforded.

The best course of action is to have an ally such as PPS Solutions to help you navigate the new legal
territory. Additionally, there are templates provided by PPS to eliminate the guesswork and ensure
thoroughness and uniformity. The company’s software provides an upload tool that works with most
companies’ existing software to bring your data into the Web based PPS registration system.

Due to the complexity of the PPS system, and a merchant’s want to afford themselves of the full protection
and convenience offered, a true ally is needed, who understands each unique business and the specific
impacts of PPS changes on that firm.

PPS Solutions is the best of breed in terms of understanding, supporting and communicating with
information and searches, forms & software and overall consulting with regards to the PPS Registry.

The PPS Information Kit is a valuable resource, available from PPS Solutions. It contains info about the
changes to the law, advice on preparing, a glossary of terms and more.
Rather than going it alone, a call to PPS Solutions is the best way to feel confident in your response to the
new Act and gleaning the maximum benefits for your business.

http://ppssolutions.com.au/pps-news.html
http://ppssolutions.com.au/pps-act-videos.html

				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:26
posted:7/2/2012
language:English
pages:1
Description: Additionally, there are templates provided by PPS to eliminate the guesswork and ensure ovides an upload tool that works with most and convenie nce offered, a true ally is needed, who understands each unique business and the specific impacts of PPS changes on that firm.